Latest China DCM news

Europe’s banks continued to lose global significance, according to the Financial Stability Board’s 2018 list of global systemically important banks (G-SIBs), although Groupe BPCE was re-added to the list. The French bank says this will not affect its funding plans.

In this round-up, wealthy Chinese individual investors now have access to local government bonds, Russian and Chinese leaders in the financial industry are meeting to strengthen mutual market access, and northbound trading volume via Stock Connect reached Rmb8.77tn.

Ma Jun, a member of the People’s Bank of China’s monetary policy committee, has come out in favour of altering bank capital rules to give lower risk weights for green assets — which could be a sign the PBoC is close to adopting the policy. He calls on China to lead the way and argues there is evidence green assets are less risky.

State Power Investment Corp’s $500m senior perpetual bond attracted plenty of demand in both the primary and secondary markets, despite coming with a structure that has fallen out of investor favour for much of 2018.

Chinese local government financing vehicle (LGFV) Sichuan Transportation Investment Group Corp raised $350m from a three year bond on Wednesday, piercing through the secondary trading levels of its closest comparables.